Commencement notification of the provisions of Companies (Amendment) Act, 2017 w.e.f. 05th March, 2021 in respect of provisions relating to Annual Return

MCA notifies date of applicability of amendment in Section 92 of Companies Act, 2013 w.e.f. 05th March, 2021 which deals with Annual Return of the company. Amendment was made by Companies (Amendment) Act, 2017 but applicability was not been notified.

This is to inform you that the Central Government has notified the provisions of clause (i) of section 23 of the Companies (Amendment) Act, 2017 w.e.f. 05th March 2021 i.e. the provisions of sections 92(1) of the Companies Act, 2013.

Accordingly, w.e.f. 05.03.2021 the following particulars as stood on the close of the financial year shall not be required to be furnished in the annual return:

1. “Its indebtedness”

2. “indicating their names, addresses, countries of incorporation, registration and percentage of shareholding held by them” in respect of shares held by or on behalf of the Foreign Institutional Investors

Further, it has been mentioned that the Central Government may prescribe abridged form of annual return for “One Person Company, small company and such other class or classes of companies as may be prescribed.

The Central Government has prescribed abridged form of annual return for “One Person Company, small company.

Government of India
Ministry of Corporate Affairs
Notification
New Delhi, 5th March, 2021

S.O. 1066(E).– In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2017 (1 of 2018), the Central Government hereby appoints the day of  05th March, 2021 as the date on which the provisions of clause (i) of section 23 of the said Act shall come into force.

[File No.111/2018-CL.1]

(K.V.R.Murty)
Joint Secretary to the Government of India

***

Extract of Clause (i) of section 23 of Companies (Amendment) Act, 2017 (1 of 2018)

23. Amendment of section 92 of Companies Act, 2013.

In section 92 of the principal Act,—

(i) in sub-section (1),—

(a) clause (c) shall be omitted;

(b) in clause (j), the words “indicating their names, addresses, countries of incorporation, registration and percentage of shareholding held by them” shall be omitted;

(c) after the proviso, the following proviso shall be inserted, namely:—

‘Provided further that the Central Government may prescribe abridged form of annual return for “One Person Company, small company and such other class or classes of companies as may be prescribed”.’.

Source- MCA & ICAI

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